Schwab Announces Depositary Shares Offering

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SCHW

SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation (the “Company”) today announced an
underwritten public offering of depositary shares, each representing a
1/100th interest in a share of its Fixed-to-Floating Rate Non-Cumulative
Perpetual Preferred Stock, Series F, with a liquidation preference of
$100,000 per share (equivalent to $1,000 per depositary share). The
Company intends to use the net proceeds it receives from the sale of the
depositary shares for general corporate purposes, which it expects will
include redeeming the Series B Preferred Stock and the depositary
shares, each representing an interest in a share of Series B Preferred
Stock.

The offering will be made pursuant to the Company’s effective
registration statement, including a prospectus and a related preliminary
prospectus supplement, filed with the Securities and Exchange
Commission. Before investing, investors should read the prospectus in
that registration statement, the related preliminary prospectus
supplement and other documents the Company has filed with the Securities
and Exchange Commission, for more complete information about the Company
and the offering. The offering is being made solely by means of a
prospectus and related prospectus supplement, copies of which may be
obtained for free by visiting the SEC’s website at www.sec.gov
or by contacting one of the joint book-running managers using the
information provided below. This press release does not constitute an
offer to sell or the solicitation of an offer to buy securities and
shall not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale is unlawful. Additionally,
this announcement does not constitute a notice of redemption with
respect to the Series B Preferred Stock and the related depositary
shares.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of
financial services. Through its operating subsidiaries, the company
provides a full range of wealth management, securities brokerage,
banking, money management, custody, and financial advisory services to
individual investors and independent investment advisors.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the federal securities laws. These forward-looking statements
include statements regarding the Company’s intended offering of
depositary shares and the intended use of proceeds of the offering.
These forward-looking statements are subject to risks and uncertainties,
including: demand for depositary shares and the pricing of the
depositary shares that are sold, if any; and other risks disclosed in
the registration statement on Form S-3 filed with the Securities and
Exchange Commission on December 15, 2014, in the Company’s Annual Report
on Form 10-K for the year ended December 31, 2016 and the Company’s
Quarterly Reports on Form 10-Q for the quarters ending March 31, 2017
and June 30, 2017.